The C-x C-v code in bash doesn't do the obviously right thing - it just redisplays the last line of the input; vis:

chiark.greenend.org.uk:~/                                 # [03/07/01.11:53:26] $
: pts/62[8] bash[10706] ; echo test test test \
    test test test \
    test test test
GNU bash, version 2.05a.0(1)-release (i386-pc-linux-gnu)
    test test test

Good grief, well, yes, of course, if you use backslashes to split lines! Obviously rl_redisplay() can only redisplay what's in the current readline buffer, as opposed to prior readline buffers. I'm not convinced this isn't perfectly acceptable, in fact; you can't go back and edit the previous two lines, so I don't see why they should be redisplayed for you in a manner that makes you think you can.

Regardless, this is an entirely separate bug - if the common display mechanism shared between my job notifications and the C-x C-v function is faulty, then report a bug in that :-)

I agree it's not your bug - I was just reporting back after investigating on the conversation from last night.

(I don't usually use backslashes to split lines, but I do quite often break lines in the middle of if then elsif else fi constructs and such-like).